Advent Weighs Options Comprising $1.5 Billion BioDuro Sale

Advent Weighs Options Comprising $1.5 Billion BioDuro Sale

Other options being evaluated with financial advisers include an initial public offering in China, the people said, asking not to be identified because the matter is confidential. Private equity firms and industry players could be interested in acquiring the drug research, development and manufacturing business, they said. A sale could even value BioDuro-Sundia at more than $2 billion, two of the people said.

Buyout firm Advent International is thinking about choices for its health-care company BioDuro-Sundia including a sale that could provide the resource with a worth of at minimum $1.5 billion, as indicated by individuals familiar with the matter. Advent purchased a larger part stake in BioDuro in 2019 and consolidated it with firmly held opponent Sundia the next year. The San Diego-settled firm additionally considers Bridgewest Business Group a sponsor.

Considerations are preliminary and the owners could still decide to keep the asset for longer, the people said. A representative for Advent declined to comment.

BioDuro-Sundia provides large biopharmaceutical companies with services including drug discovery, development and manufacturing, according to a recent press release. It has more than 2,000 employees in 10 sites including in China and in the U.S.

Advent has invested $58 billion in over 380 private equity investments across 42 countries since its founding in 1984, its website shows. It has completed 50 health-care investments in 17 countries.

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